Dynamex Inc., a provider of same-day delivery and logistics services in the United States and Canada, on Wednesday, Dec. 5, announced net income of $4.0 million for its fiscal year 2008 first quarter compared to $3.6 million in the prior year.
Sales increased 11.1 percent to $112 million this quarter compared to the prior year. The exchange rate between the Canadian dollar and the U.S. dollar was 10.2 percent higher this quarter than the same quarter last year. The Dallas-based company estimates that higher fuel surcharges account for about 0.4 percent of the increase in sales this quarter compared to the prior year. The core growth rate, the rate excluding the impact of the stronger Canadian dollar and higher fuel surcharges, was about 6.8 percent this quarter, Dynamex said.
“We are very pleased with our first-quarter performance, and our positive outlook for the year remains very much on track,” said Rick McClelland, Dynamex chairman and chief executive officer. “Overall, our business performed well during the first fiscal quarter as we continued to see considerable success in generating new business organically through new and existing customer relationships, increasing our competitive strengths and expanding our business through our franchise program, which now includes more than 40 locations throughout the United States and Canada. We are also continuing to evaluate opportunities to expand our business through well-priced tuck-in acquisitions that can be easily integrated into our operations and be accretive to the business.”